CandleFocus XRP Lawsuit: John Reed Stark Says Judge Torres Was ‘Mistaken,’ Slams Ripple Decision
2024-12-19
Author: Content Editor
Former SEC enforcement official, John Reed Stark, expressed his criticisms of the Ripple ruling in a recent podcast. He argued that the ruling lacks legal clarity and should only be applied to cases with similar specific facts. Stark believed that the judge made mistakes in multiple counts, a view shared by other judges who have reviewed the case. He agreed that the initial offering of XRP tokens should have been registered as securities, but disagreed when it came to the secondary market. Stark also criticized the confusion created by the Ripple decision and how it was being used by pro-crypto companies. The judge rejected the SEC's request to use the Ripple decision as precedent unless the exact same circumstances were present.
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